House Prices in Brisbane Remain Stable
The most recent median house price data from the Real Estate Institute of Queensland (REIQ) showed that Brisbane house prices remained quite steady through 2012.
In the December quarter, the median house price increased by 0.4% to $510,000 and was the second consecutive quarterly increase for Brisbane houses.
Anton Kardash, Chief Executive of the REIQ, said that these results indicated that the second half of 2012 saw market improvements that exceeded expectations. He said that they also showed that buyers were more active than in 2011.
With an increase of 8% in the volume on houses sold year-on-year in Queensland, it is likely that the improvements are the result of low interest rates, increasing levels of confidence and a more stable domestic and international economic outlook.
Although despite the increase, the numbers of first-home buyers entering the Queensland market maintained a downward trend from October 2012, which was when the first-home owners’ grant was abolished in Queensland.